Abu Dhabi-headquartered Mubadala Petroleum has rebranded as Mubadala Energy, the company announced Tuesday.
According to the company, the new brand reflects a “fresh strategic direction,” where Mubadala Energy will build on its contribution to the energy transition by expanding its gas-weighted portfolio in areas such as LNG while exploring new energy sectors including blue hydrogen and carbon capture.
Commenting on the rebranding, Musabbeh Al Kaabi, CEO of UAE Investments at Mubadala Investment Co and chairman of Mubadala Energy, said the new brand identity reflects the business in its “next phase of growth” that aligns with the energy transition through a gas-weighted portfolio and an increased focus on more sustainable energy sectors.
Mansoor Mohamed Al Hamed, CEO of Mubadala Energy, said: “We are tremendously proud of what we have achieved since we were founded ten years ago. But today is the right time to signal our focus on energy transition through a bold new brand.”
Making the change in its tenth year of operations, the company now spans eleven markets and has also reached the significant production milestone of 500,000 barrels of oil equivalent a day (boed), marking a 22% increase in production from 2021.
In 2017, Mubadala Energy shifted its strategy to natural gas as a key bridge fuel in the energy transition. This strategic pivot saw the company realize key projects such as the acquisition of a 10% participating interest in Egypt’s Zohr gas field within the Shorouk Concession, and the more recent investment to acquire a 22% stake in the Tamar Gas field, offshore Israel. Other major gas projects include Mubadala Energy’s operated Pegaga gas field in Malaysia, which recently achieved first commercial gas, hitting the production milestone of 500 MMcf and 16,000 barrels of condensate, per day.
